France's private sector unexpectedly contracted in May, with composite PMI dropping to 49.1.
France's private sector unexpectedly contracted in May, with both service and manufacturing industries reporting a decrease in activity. The composite PMI dropped to 49.1 from 50.5, while the manufacturing PMI rose slightly to 46.7 from 45.3. The services PMI fell to 49.4 from 51.3, moving below the neutral 50.0 threshold. Despite the contraction, a 0.3% economic growth is expected for the second quarter.
May 23, 2024
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